Location, location, location. Lately, I have seen sales that are more about location, maybe it’s not in the best location, but it’s close to a good location. I have seen more sales lately where even if that property needed work, like a $2 million property needed a new bathroom and it sold within two days at $2 million.
https://www.youtube.com/watch?v=zSDAqf8WRrQ
Location, location, location. Lately, I have seen sales that are more about location, maybe it’s not in the best location, but it’s close to a good location. I have seen more sales lately where even if that property needed work, like a $2 million property needed a new bathroom and it sold within two days at $2 million.
Crazy, right? But you know, it had everything. It had a location, it had a great floor plan, a beautiful kitchen, a nice house, great neighborhood. It had everything. The buyer thought this had everything I wanted. And it is something I can overcome. I can put in a new bathroom because buyers, smart buyers buying in this market know that location is key. The neighborhood is key, it may be close to a good location and it’s or a little off the best location, but that is important because you can fix the house. But you cannot fix the location.
I will tell you about my own house. It needed a foundation, it needed a kitchen, it needed a garage, it needed a lot, it needed new plaster on the walls, and it still needs a new bathroom. It needed just about everything. But when we bought it, we bought it for location. It’s close to downtown, it’s close to the beach a couple of miles away, again, adjacent. It’s got weather that I like, a microclimate that is perfect. It’s warmer here than it is closer to the ocean. We also like the size of the lot, the gardening opportunities that we have here, and we really enjoy the yard because we are in the climate we enjoy. This house was a junker. We have done a lot of work on it, but it was just never built to be, you know, this great house, it was built in 1926 as rental. We knew we could fix everything to enjoy the location. Keep that in mind when you’re thinking about location and see if you can get close to where you want to be.
When you get the right combination of everything that you’re looking for fixing the house will make sure that your have found the perfect place to live!